Kardigan

Last updated: June 19, 2026
Ticker
KARD
Exchange
NYSE
IPO Date
Pending
Price Range
$14.00 - $16.00
Deal Size
$350 million
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Company Snapshot

Kardigan is a clinical-stage precision therapeutics company focused on developing medicines that target the root causes of specific cardiovascular diseases lacking approved treatments. The company aims to develop multiple targeted cardiovascular treatments in parallel, leveraging expertise in cardiovascular biology and advanced analytics to accelerate drug discovery and development. Their management team includes leaders with a proven track record in cardiovascular drug development.

Key Investors
ARCH Venture Fund XIII, L.P., Perceptive Capital Solutions Holding LP

Per S-1 disclosure; % may not sum to 100% when ownership is nested, multi-class, or reported on different bases.

Key Financials

Metric20252024
RevenueNot providedNot provided
Adjusted Net Loss-$191.9M-$88.7M

Balance Sheet

Cash & Equivalents
$109.0M

Implied Valuation at Midpoint

Market Cap
$1.3B

Based on price range midpoint and most recent fiscal year data.

S-1 Highlights

Market & Competition

The company operates in the cardiovascular therapeutics market, which is currently underserved due to a lack of innovative treatments. Kardigan competes with companies like MyoKardia, Inc.

Use of Proceeds

Proceeds from the IPO will be utilized to fund the development of their product candidates and support the necessary activities for commercialization.

Key Risk Factors

  • The company faces significant risks related to the lengthy and uncertain process of pharmaceutical product development, which may lead to failures at any stage of clinical trials.
  • Kardigan's success is heavily dependent on obtaining necessary regulatory approvals, which can be delayed or denied based on various factors.

Deal Structure

Primary Shares
23,333,334 shares
Shares Outstanding
87,672,455 shares
Post-IPO Float
26.6%
Lock-up
180 days
Lead Underwriters
J.P. Morgan, Jefferies, Leerink Partners, TD Cowen

Reported Broker Availability

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